10/15/2012 6:12:00 PM
NEWS BRIEFS
NORMA Group Acquires Majority Stake in Chien Jin Plastic
Making its first acquisition in Asia, NORMA Group has acquired an 85% stake in Chien Jin Plastic.
Malaysia-based Chien Jin Plastic specializes in joining elements for plastic and iron pipe systems.
In the market for 20 years, Chien Jin Plastic manufactures pipe couplings for different application areas, in particular for drinking and domestic water distribution, and irrigation systems.
In addition, the company produces components for sanitary appliances and globally distributes its products under its brand name Fish Brand to more than 200 distributors in about 30 countries.
In the past fiscal year, the company generated overall sales of more than EUR 7 million with around 150 employees.
NORMA Group has already been present in Southeast Asia since 2004 with locations in Singapore, Malaysia, Thailand, Vietnam, Indonesia and the Philippines.
“This acquisition of the majority in Chien Jin Plastic shares reinforces our presence in the growth region Asia-Pacific and is a valuable enhancement to our product portfolio in particular in the drinking water distribution market,” says Werner Deggim, CEO of NORMA Group. “NORMA Group products help to prevent leakages in water supply systems.” ©2012 GlobalFastenerNews.com
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